Elon Musk’s lawyers claim that Twitter is in “clear material breach” of the Tesla CEO's acquisition deal for the social media platform, by failing to disclose information on how many spam bots are utilizing it.
“Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement. This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” Musk’s legal team said in a letter sent to Twitter Monday.
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Musk has been complaining about the spam bot problem on Twitter putting the deal “on hold” following the announcement of his planned $44 billion acquisition deal.
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
Twitter has estimated the bots make up about 5 percent of it’s social media accounts. Musk has been calling on Twitter to provide data validating that number.
.@elonmusk had a reality check for Joe Biden. pic.twitter.com/X9i8yHJZwu
— MRCTV (@mrctv) May 17, 2022